# Tax - General (GTG)

## Title 10. Income Tax

### Subtitle 1. Definitions; General Provisions

#### Section 10-104

The income tax does not apply to the income of:

(1) a common trust fund, as defined in Sec. 3-501(b) of the Financial Institutions Article;

(2) except as provided in Sec.Sec. 10-101(e)(3) of this subtitle and 10-304(2) of this title, an organization that is exempt from taxation under Sec. 408(e)(1) or Sec. 501 of the Internal Revenue Code;

(3) a financial institution that is subject to the financial institution franchise tax;

(4) a person subject to taxation under Title 6 of the Insurance Article;

(5) except as provided in Sec. 10-102.1 of this subtitle, a partnership, as defined in Sec. 761 of the Internal Revenue Code;

(6) except as provided in Sec. 10-102.1 of this subtitle and Sec. 10-304(3) of this title, an S corporation;

(7) except as provided in Sec. 10-304(4) of this title, an investment conduit or a special exempt entity; or

(8) except as provided in Sec. 10-102.1 of this subtitle, a limited liability company as defined under Title 4A of the Corporations and Associations Article to the extent that the company is taxable as a partnership, as defined in Sec. 761 of the Internal Revenue Code.

---

Md. Code Ann., Tax-Gen. (as displayed at mgaleg.maryland.gov, October 16, 2026)